Chip Rout Deepens as Memory Giants Slump; IMF Flags Limits of Resilience

By Roberto Attuch October 13, 2026 · 0 comments

Samsung, SK Hynix selloff drags Asian tech benchmark to lowest since August
IMF sees 3.4% global growth in 2027 on AI capex, but warns on energy shock, jobs
Beijing warns of retaliation after EU hybrid deal; Goldman, JPMorgan report
Brent falls 2% to $105; European, Japanese and Chinese bourses little changed
Semiconductor shares extended a two-day selloff, led by a rout in memory heavyweights Samsung Electronics Co. and SK Hynix Inc. that pushed a regional benchmark of Asian technology stocks to its lowest level since August and at one point knocked South Korea’s equity gauge down 7%.

The plunge underscores how quickly sentiment has reversed in the memory complex, which had been among the year’s strongest trades on the back of AI-driven demand for high-bandwidth chips. The retreat rippled across the region’s suppliers and dragged the broader tech index lower despite resilience elsewhere.

In Washington, the International Monetary Fund forecast global economic growth accelerating to 3.4% in 2027 from 3.1%, with artificial-intelligence investment serving as the primary engine. The fund tempered that projection with a pointed warning: the world economy is nearing the limits of its resilience, strained by the energy shock and the financial stress it has generated, while AI poses a potential disruptive threat to labor markets.

Trade tensions between Europe and China also intensified. Days after the two sides reached an agreement limiting imports of Chinese hybrid vehicles, Beijing warned it stands ready to retaliate should Brussels impose further trade restrictions.

Markets at a Glance

Equities: Bourses in Europe, Japan and China hovered around the flatline, with losses in chipmakers offset by broader stability. South Korea was the regional outlier, swinging violently before paring its decline.
US Futures: Contracts pointed to a modestly lower open, with technology weakness again the principal drag.
Commodities: Brent crude fell 2% to $105 a barrel, offering limited relief from an energy shock that has kept inflation and yields elevated.
Earnings: Goldman Sachs Group Inc., Citigroup Inc., JPMorgan Chase & Co. and Johnson & Johnson are among the companies reporting results today.